Technavio analyzes that the Corrugated Pallets Market is expected to grow at a CAGR of 5.87% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 452.37 million.There are various factors that contribute to the growth of the market. The corrugated pallets market is experiencing significant growth due to the increasing demand for sustainable packaging solutions. Businesses are increasingly seeking eco-friendly alternatives to traditional pallets, and corrugated pallets, with their recyclable and reusable nature, are gaining popularity. Additionally, their ability to provide superior protection during transportation and storage further enhances their appeal. This trend is expected to continue as more companies prioritize sustainability in their operations.
The corrugated pallets market is experiencing significant growth due to the increasing demand for eco-friendly and robust packaging solutions. Among the various segments, the "greater than 3" category holds considerable importance. These pallets, characterized by their three walls, offer enhanced support and stability to the packaged goods. They are particularly popular in industries dealing with bulky or delicate items, such as food and beverage, pharmaceuticals, chemicals, and automobiles. The advantages of greater than 3 corrugated pallets lie in their ability to withstand heavy weights and rough handling, while remaining lightweight and efficient. Their widespread usage can be attributed to their durability and suitability for various end-use industries.
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Corrugated Pallets Market Segmentation
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The Corrugated Pallets Market encompasses various types of pallets, including paper pallets made from paper board, as alternatives to traditional wooden pallets. Materials used in corrugated pallets include paper board and non-recyclable materials. Top decks and bottom decks are supported by internal structures like cells, honeycomb, support blocks, and runners. Manual and automated assembly methods are used for production. End users in sectors like Chemical, Pharma, Agriculture, Metal, Machinery, Wholesalers, E-commerce, Retail channels, Household, and Consumers benefit from this market. AMR forecasts incremental revenue growth through 2027 for these pallets, using methods like manual and automated assembly.
The corrugated pallets market is a segment of the larger global diversified support services market, which is a part of the commercial services and supplies industry. This market comprises companies offering labor-intensive business support services, including corrugated pallet providers. Technavio calculates the commercial services and supplies market size based on the consolidated revenue generated by firms in commercial printing, environmental and facilities services, office services and supplies, security and alarm services, and diversified support services, such as corrugated pallets, which are manufactured using paper board and other materials like wood, and employ advanced technologies like Automated Material Handling Systems (AMR) to generate incremental revenue.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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